Property Management
In New York City, the 'Rent Freeze Program' (also called the Senior Citizen Rent Increase Exemption, SCRIE) allows eligible senior citizens in rent-stabilized apartments to:
AAvoid all future rent increases in perpetuity
BHave their rent frozen at a certain level, with the city reimbursing the landlord for the difference through a tax credit✓ Correct
CPurchase their unit at a discounted price
DReceive free utilities from the building
Explanation
SCRIE (and the similar DRIE for persons with disabilities) freezes the rent for qualifying low-income seniors (and disabled persons) in rent-regulated apartments. The city reimburses landlords for the foregone rent increases through a property tax abatement.
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